House tds

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Querist : Anonymous

Querist : Anonymous (Querist)

15 September 2012 how much is the limit for deducting TDS of house rental income for women?

Gursimar Singh

Gursimar Singh (Expert)
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15 September 2012 As per section 194-I of the Income Tax act, 1961 TDS of Renting of Immovable property is to be deducted if the annual rental income exceeds Rs. 180000/-. The rate of TDS is 10% irrespective of the fact assessee is men or women.

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Querist : Anonymous

Querist : Anonymous (Querist)

15 September 2012 Suppose if the rent is 16000 per month (i.e., rs. 192000 per annum) and the rental agreement is in the name of two assesses, then the amount 192000 is taxable or the income will split into two parts i.e., 96000 for one assessee and 96000 for other assessee?

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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15 September 2012 The Income of Rs. 192000 is taxable in hands of 2 persons as per their share of ownership.No TDS will be deducted in that case since the there are 2 different assessees.

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Querist : Anonymous

Querist : Anonymous (Querist)

15 September 2012 is it possible to evade tax on this 192000, is there any legal way to evade ?

Querist : Anonymous

Querist : Anonymous (Querist)

15 September 2012 I mean is there any provision for exemption for paying house rental tax?

Querist : Anonymous

Querist : Anonymous (Querist)

15 September 2012 I mean is there any provision for exemption for paying house rental tax?

Gursimar Singh

Gursimar Singh (Expert)
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16 September 2012 See spliting of income is possible in case of joint ownership of property only.....and the rent agreement should state the share of each co owner

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